Fresh Start Homes

A qualified valuer will value your property. Your lender and the party interested in purchasing the property will agree the price based on this valuation. You will be asked to agree to this price in the Final Letter of Offer, which will be sent to you before you will be required to make the final decision to accept MTR.

A qualified valuer will value your property. Your lender and the party interested in purchasing the property will agree the price based on this valuation. You will be asked to agree to this price in the Final Letter of Offer, which will be sent to you before you will be required to make the final decision to accept MTR.

Any outstanding mortgage debt is a contractual matter between you and your lender. When the lender sends you the Final Letter of Offer asking you to agree to the sale, they will outline what will happen to your residual debt.

The property eligibility is checked at the outset of the scheme. If the eligibility of the property changes during the process e.g. the property goes into positive equity, each case will have to be assessed on a case by case basis. The purpose of the MTR Scheme is to try to keep people in their homes.

You as a social housing tenant will be charged a rent based on your income. This is calculated by the local authority using the differential rent system. It is based on your ability to pay, i.e. the lower your income the lower the rent. Under MTR, whether your landlord is the local authority or an Approved Housing Body you will be charged the same differential rent.

The buyer is responsible for the maintenance and repair of the property as set out in your tenancy agreement whether an Approved Housing Body or a private company buys the property. Properties made available for social housing purposes must meet private rental standards.  Where properties do not meet these standards, the buyer will arrange to have the necessary works undertaken as soon as possible after the completion of the MTR process.

Yes, your home can be sold during the term of the lease, but your tenancy will not be affected. Your landlord remains the same and you will remain in the property under the same conditions and with the same protections as existed prior to the sale.

You do not have to make the final decision to accept MTR until you are issued with the Final Letter of Offer which will contain all the information that you should need to get independent financial and legal advice and make an informed decision. The MTR process includes a ‘cooling off’ period following the return of the signed letter to your lender.

If the other party to the loan is willing to sign the Voluntary Surrender form allowing for the transfer of the property to the lender for sale, then yes you may be eligible for MTR.

Yes, a Personal Insolvency Practitioner (PIP) may suggest MTR as a solution under an insolvency arrangement.

A list of PIPs can be located on backontrack.ie/PIA

If your mortgage, home and household meet the detailed eligibility criteria for MTR already described and the Official Assignee, who oversees bankruptcies, is satisfied that the sale of your home will not produce a return for your bankruptcy estate, the Official Assignee will work with you and your mortgage lender to facilitate the sale of your home under the MTR scheme.

Yes, if you can obtain the finance for the purchase you can buy the property. The price you will pay will be the open market value at the time you purchase it back or the price the buyer paid for the property, including costs with a clawback applied (the value of which relates to time between the buyer purchasing it and you buying it back). You will be given the opportunity to choose either option and the cost of both when and if you are in a position to purchase.